$7,500 Down Payment Grants Available In Illinois

The Illinois Housing Development Authority has just implemented a program that provides $7,500 down payment assistance in the form of a grant to Illinois first time home buyers.

To qualify for this program you’ll need a credit score of at least 640, have at least 1% of the purchase price available to put towards the purchase, and live in one of the following Illinois counties: Boone, Cook, DeKalb, Fulton, Kane, Marion, McHenry, St. Clair, Will and Winnebago.

The Chicago Tribune reports:

The Illinois Housing Development Authority has launched a program that will provide down payments of $7,500 each to up to 4,000 first-time homebuyers, veterans and others in 10 Illinois counties.

The program, called 1stHomeIllinois, also is intended for those who haven’t owned a home in the last three years, with borrower income limits of up to $106,400 for a family of three or more.

>> read the full story at chicagotribune.com

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